30 May 2018

According to the central bank, Canadian inflation has been staying close to its 2% target, but it is expected to rise pushed up by higher gasoline prices.

The BoC was quite confident in the national real estate market, noting that housing resale activity was still soft in the second quarter, and the market is adjusting to the new rules and rate hikes. Later, the Bank predicts that strong income growth will lead to the activity rebound and consumption will keep contributing to the economic growth this year.

The central bank’s next rate meeting is on July 11. It will also include an updated economic report.

Bloomberg says the odds of a rate hike on July 11 rose from Tuesday’s 53.2% to the current 79.5%.